Rural

Coal reserves to last 184 years

Federal Resources minister Martin Ferguson told a Committee for Economic Development of Australia conference on Tuesday Australia had a supply of black coal – mined mostly in Queensland – to last 128 years.
Federal Resources minister Martin Ferguson told a Committee for Economic Development of Australia conference on Tuesday Australia had a supply of black coal – mined mostly in Queensland – to last 128 years.

EVEN as the government tries to steer Australia away from using fossil fuels through a carbon tax, our national coal reserves dwarf those held by most countries allowing at least another two centuries of mining.

A review of world energy supplies by petrol giant BP found Australia held 8.9% of the world's proven coal reserves, about 76.4 billion tonnes worth.

The only nations listed with more were the United States with 27.6%, Russian Federation with 18.2% and China with 13.3%.

However, the figures are somewhat fluid, as exploration in Queensland and across the country is expected to reveal more coal seams.

Based on Australia's current production and amount in reserve, BP estimated coal mining could continue at the same rate for 184 years.

Queensland Resource Council chief Michael Roche said the state was in an enviable position, supplying coal to the fastest growing regions in the world.

He said our coal reserves were known to be higher quality than elsewhere, adding estimates of coal reserves changed rapidly in the past 10 years.

"Less than a decade ago, the conventional wisdom was that the Galilee Basin held a little over 2 billion tonnes of thermal coal," Mr Roche said.

"Subsequent, more intensive exploration has confirmed resources of more than 28 billion tonnes with an expectation of 'more to come'."

Federal Resources minister Martin Ferguson told a Committee for Economic Development of Australia conference on Tuesday Australia had a supply of black coal - mined mostly in Queensland - to last 128 years.

He said with the world population increasing by almost two billion by 2035, largely in our prime export markets of China and India, the industry would thrive.

Topics:  bp, coal mining, galilee basin, hancock coal, mining




Join the Community.

Get your local news, your way.

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Spate of armed robberies raises alarm

Grafton Courthouse Photo Adam Hourigan / The Daily Examiner

Teen arrested, charged with service station theft

Three golf carts taken for joy ride

Golf buggies and carts are the mode of transport for golfers.Photo Erica Murree / Central & North Burnett Times

Two stolen golf carts have been dumped at Pippi Beach after break-in

Punctuated tattoos lift taboo on mental health

FLASH: Yamba’s Squall and Anchor tattoo artists Josh Pidcock and Ben Ross get ready for this Sunday’s fundraiser for the Clarence Valley Suicide Prevention Committee.

Tattoo fundraiser permanent reminder of hope and support

Latest deals and offers

Rohan Markham - PBR Grafton competitor

No Caption

23-year-old Rohan Markham from Ravenshoe, Queensland is one of the 40 professional...

Sam O'Connor - PBR Grafton competitor

No Caption

25-year-old Sam O'Connor from Tully, Queensland is one of the 40 professional bull...

Matt Pfingst - PBR Grafton competitor

No Caption

21-year-old Matt Pfingst from Texas, Queensland is one of the 40 professional bull...

How a sacked real estate agent made $725k in four months

Agent is now under investigation by the industry watchdog

VIDEO: Art Deco fan pays $835,000 for Imperial Hotel

No Caption

Iconic "Impy" sold at a bargan price to bidder who loves Art Deco.

RBA warns of future apartment oversupply

Toowoomba: Crest Apartments and Burke & Wills, Ruthven Street ( view from Neil Street) Photo Bev Lacey / The Chronicle

RBA says oversupply of apartments poses risk to household finances